Guidelines on Deduction for Expenses in relation to Secretarial & Tax Filing Fee for YA2020
1) To improve compliance and governance, income tax deductions for secretarial and tax filing expenses have been merged and limited to a maximum of RM15,000 each year of assessment effective in the assessment year 2020. 2) The Guideline dated 11 May 2021 revise the Guideline dated 18 September 2020 to explain the tax treatment of […]
Guideline on Compensation on Late Refund of Overpayment of Tax (GPHDN No. 2-2021)
The Inland Revenue Board of Malaysia (LHDNM) issued a Guideline on Compensation on Late Refund of Overpayment of Tax (in Bahasa Malaysia only) dated 21 May 2021. 马来西亚内陆税收局于2021年5月21日发布了《关于逾期退税补偿的指南》（仅有马来语）。 9
Guideline on Dispute Resolution Proceeding (DRP)
The Dispute Resolution Proceeding, or DRP, is an initiative of the IRBM that was implemented on July 1, 2013, to allow taxpayers to settle an appeal or application for relief without having to submit it to the Special Commissioners of Income Tax (SCIT) for a decision. 争议解决程序，或称 DRP，是税收局于2013年7月1日实施的一项举措，以让纳税人可以在不必经过所得税特别专员 [SCIT, the Special Commissioners of Income Tax] […]
Tax Exemption on Tablet related Benefit – Perquisites vs BIK
Tax Exemption on Tablet related Benefit – Perquisites vs BIK – PDF Public Ruling No. 5_2019 – Perquisites Public Ruling No. 11_2019 – BIK Income Tax (Exemption) Order 2021 1. On November 19, 2019, the IRB issued Public Ruling 5/2019 concerning the value of perquisites given to employees. 2. Under item No. 7.4 of this […]
Filing of Form Q by A Person who is Aggrieved by an Assessment
1. A person who is aggrieved by an assessment made on him by the Director-General of Inland Revenue (DGIR) for any year of assessment is entitled to appeal such assessment under Section 99 of the Income Tax Act 1967 (ITA). 2. According to paragraph 99(1) of the ITA, an appeal must be filed by filing […]
Updated Guidelines for submission of Estimated Tax Payable (CP 204)
1) The Inland Revenue Board (IRB) has released Operational Guidelines No. 1/2021 (GPO 1-2021) on its website, dated December 22, 2020. 2) The guidelines are captioned “Pengemukaan Anggaran Cukai Yang Kena Dibayar Di Bawah Seksyen 107C Akta Cukai Pendapatan 1967 (ACP)” and are prepared in Bahasa Malaysia. 3) The new 45 pages Guidelines supersede the […]
Income Tax Treatment of Wage Subsidy Programmes
1. We would like to remind taxpayers who receive the grant and/or subsidy: 👉 to pay attention to how the grant and/or subsidy are treated 👉 since the Subsidy Wages that employers get under the Wage Subsidy Programs are a kind of government assistance. 2. Taxpayers are exempt from tax under the Income Tax (Exemption) […]
Income Tax Treatment of Interest expense incurred during the Moratorium Period
Income Tax Treatment of Interest expense incurred by SMEs and individuals during the Moratorium Period – PDF 1. According to S.33(4) of the ITA 1967: “For the purposes of paragraph (1)(a) and subsection (2), where any sum payable for a basis period for a year of assessment is not due to be paid in that […]
Stamp Duty (Exemption) (No. 14) Order 2021: High Tech Facility
The Minister exempts the instrument of loan or financing agreement executed between a participating financial institution and small and medium enterprises for the High Tech Facility – National Investment Aspirations approved under Bank Negara Malaysia’s Fund for small and medium enterprises from stamp duty. P.U. (A) 387 – Stamp Duty (Exemption) (No. 14) Order 2021 […]
Income Tax (Deduction for Training Costs Under National Dual Training System) Rules 2021
1. NDTS is the acronym for the National Dual Training System. ‘Dual’ means training in two learning situations, namely: 👉 The actual workplace (company) that covers 70% to 80% practical training (performance) and; 👉 Training Centre which covers 20% to 30% of theory (knowledge). 2. IN exercise of the powers conferred by paragraph 154(1)(b) read […]
